A map from the report showing the approximate location of the first well. The black boxes indicate the approximate boundaries of the licensed areas, while Andros is to the north.
By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net
BAHAMAS Petroleum Company’s chief executive Simon Potter yesterday expressed confidence that oil exploration will begin next year.
The company has completed extensive sensitivity mapping of widespread ares across the country, according to Mr Potter, in a press release issued ahead of an environmental law and policy conference at the College of the Bahamas today.
Mr Potter is an expected panelist at the Oil Exploration, Oil Spills and Environmental Damage Conference, hosted by COB’s LLB programme.
The statement read: “The Company expects the Government revised industry regulations will reflect the use of current enhanced technologies and the need for industry ‘best-practices’ to apply in line with the changing attitudes and tolerances of society.
“It is anticipated they will combine best practices as identified in a variety of leading jurisdictions – including new procedures and equipment requirements to reflect the most up-to-date risk management practices – and a mandate on the use of the most appropriate technology for the task.”
Last night, the firm’s public relations spokesperson Serena Williams said that all of the maps have not yet been made public; however, several were included as supporting documents in the company’s required Environmental Impact Assessment.
Earlier this year, Simon Potter, BPC’s chief executive, told Tribune Business that until the Government published its regulatory framework for oil exploration in the Bahamas, the Central Bank of the Bahamas and Securities Commission would be unlikely to approve any BDR issue to Bahamian investors.
In the oil explorer’s 2013 annual report, departing chairman Adrian Collins said BPC is “ready and willing” to proceed with its long-planned share offering to Bahamians, its departing chairman noting progress had been understandably “frustrated” by the wait for approvals.
BPC’s EIA and related documents can be found on the BEST Commission’s website: http://www.best.bs.
Comments
ThisIsOurs 10 years, 6 months ago
Referendum on oil exploration??? How can the investor tell us with confidence that this will happen? Perry Christie hasn't put forward the oil referendum like he promised, we haven't had our say in whether we want this to be done in our country.
ThisIsOurs 10 years, 6 months ago
Hmmm..I like you general crazy. You're a little crazy and irreverent for me at times, but hey, life would be dead boring if everyone were like me. I've never been "for" oil exploration. I recall have a discussion with a friend when the issue first came up years ago, oil wells,?!? In our clean waters?, my one consolation is that no one has found anything! perhaps they never will and it's just another scam to get investors money to search for shipwrecks. Btw, I'm neither PLP or FNM, but I will admit that given a choice between the present administration and the last, I'd take my chances with the last, at least I can see some evidence of what they did. I consider it my obligation to vote, but I recall standing in the voters booth one election and simply not being able to bring myself to vote for any of the worthless candidates presented to me, so I didn't, I destroyed the ballot. And for the record, these were seasoned candidates, I just happened to think both were worthless. That's how seriously I take that.
Rock and a hard place. I want the Bahamas to get to the point where we have brilliant men leading us, men who have good character and good reputation and have proven themselves successful over their personal lives and finances. I am tired of carousing, thiefing, brain dead, megalomaniacs, ethics-LESS, strategy-LESS, womanizing, embezzling, self indulgent, orgy loving, criminal minded (...aaahh, out of made up adjectives)....men leading this country.
ThisIsOurs 10 years, 6 months ago
Long story short? No.
Someone has to govern, choice between last one and this one, I'll take half out of my mind with the last one over completely out of my mind with this one.
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